The company invited supplier companies and external ESG specialists to discuss ESG-related requirements and recommendations as well as share successful case studies. 

“Since a majority of healthcare emissions are created in the manufacturing supply chains, it is critical for us to work together at every level to become greener and more circular,” said John Rim, CEO and President of Samsung Biologics. “By connecting our suppliers with resources to help them assess their performance and opportunities to go beyond carbon emissions reductions, we are building a more transparent and responsible value chain.”

Samsung Biologics has been conducting ESG assessments with its suppliers to minimize potential social and ethical risks, build a stable network, and establish green strategies towards decarbonization. Earlier this year, the company and members of the Sustainable Markets Initiative’s Health Systems Task Force—a public-private partnership launched at COP26 to accelerate the decarbonization of health systems—called on suppliers to commit to joint, minimum climate and sustainability targets, which aim to address emissions across the value chain and reduce the complexity of multiple asks.

The company today also released its second report aligned to the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD). The report serves the company’s commitment to providing transparency on its approach to managing climate-related risks and opportunities across the business. 

“We are pleased to share our progress towards our emissions reduction targets and the responsible business practices we are implementing to mitigate climate change risks,” said Rim. “We will continue to amplify our efforts to achieve our carbon ambition, while continuing to support our clients to deliver therapies to millions of patients worldwide.”

Highlights from the 2023 report include:

• Establishing new milestones to achieve net zero by 2050 and engaging suppliers to reduce their direct emissions 

• Prioritizing Samsung Biologics’ sustainable leadership as an active member of the Sustainable Markets Initiative and champion for the Supply Chains Working Group; First CDMO to receive the SMI’s Terra Carta Seal

• Joining the Sustainable Aviation Buyers Alliance to help reduce emissions through investment in Sustainable Aviation Fuel

The full text of the report is available here.